Finance encompasses both the science and the art of managing money and investments. The study of finance provides students with an understanding of numerous financial theories such as the relation between risk and return, the factors that determine asset values, and strategies for minimizing the risk exposure of both corporations and investors. An understanding of these theories helps students develop the ability to make sound and practical business and personal investment decisions. The importance of finance in the economy and the functions and purposes of monetary systems, credit, prices, money markets, and financial institutions are stressed throughout the area of emphasis. Students are trained to think logically regarding financial problems and to formulate sound financial decisions, policies, and practices.
The finance emphasis prepares students for jobs in a corporate industrial setting or in the financial services industry. Students who study corporate finance prepare for careers managing corporate assets. Specific jobs in the corporate setting can include cash and receivables management, capital budgeting decision making, short- and long-term financial planning and analysis, risk analysis and management, and financing decisions. Financial services careers include positions in investment counseling, insurance, personal asset management and other financial planning careers.
A finance minor for non-business students compliments degrees such as Mathematics, Economics and Engineering very well. For math students interested in actuarial sciences, a fundamental understanding of finance is a must. For economics students, this minor will round out the theoretical principles that they have already learned with direct application to the business world. For engineers, it helps because odds are that they will be managing large projects at some point, so the managing of cash flows is vitally important.